: The India Fix: How will the age of inflation change Indian politics? #IndiaNEWS Welcome to The India Fix by Shoaib Daniyal, a newsletter on Indian politics. To get it in your inbox every Monday, sign

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The India Fix: How will the age of inflation change Indian politics? #IndiaNEWS
Welcome to The India Fix by Shoaib Daniyal, a newsletter on Indian politics. To get it in your inbox every Monday, sign up here. Have feedback, interesting links or memes? Send them to shoaib@scroll.in.India woke up to some troubling news on Friday: at 7.79%, retail inflation in April was at the highest level in eight years. It had last been higher only in May 2014, the final month of the tottering United Progressive Alliance government. The figures were worrying but should not have been surprising. While the Modi government has tried to claim that this is solely the result of the Russia-Ukraine war, India’s current spell of rising inflation precedes that by quite a bit. The country has, in fact, been seeing high levels of inflation for more than two years now.Lockdown to UkraineOne of the major factors contributing to high inflation seems to have been India’s incredibly harsh Covid-19 lockdown in 2020. The sudden closure of nearly the entire Indian economy was unique even compared to the lockdowns imposed by other countries. India’s manufacturing capabilities as well as supply chains were disrupted, leading to fewer goods reaching Indian consumers and, as a result, prices rising.Also playing a part were very high fuel taxes levied by the cash-strapped Union government....Read more

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